PPP Loan Data — Snyder Electric, Oak View, CA
Entity: Subchapter S Corporation
Location: Oak View, CATweet This • Search All PPP Data
Snyder Electric is a subchapter s corporation located at 10343 Creek Rd in Oak View, California that received a Coronavirus-related PPP loan from the SBA of $45,870.00 in April, 2020.
PPP Loan Information
Loan Status:Paid in Full or Forgiven
Snyder Electric in Oak View, CA received a Paycheck Protection Loan of $45,870 through Mechanics Bank, which was approved in April, 2020.
This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in April, 2021.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Snyder Electric's 2019 payroll expenses are estimated to be at least $220,176.
Based on their reported 6 jobs retained, this equals an estimated average yearly compensation of $36,696 per employee1
Reported PPP Proceed Usage:
On the PPP application, Snyder Electric reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $45,870
Business Information - Snyder Electric in Oak View, CA
10343 Creek Rd
Oak View, CA 93022
Electrical Contractors and Other Wiring Installation Contractors
NAICS code 238210
Business Owner Demographics
Veteran Status: Unreported
Business Age: New Business or 2 years or less
LMI Zone: N
Rural / Urban: Urban
Similar Companies near Oak View
In the Oak View area, 20 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a PPP loan. These local businesses reported an average of 5 employees (compared to this company's 6) and received an average PPP loan of $57,683 (compared to this company's $45,870).
Similar Nearby Businesses Who Received PPP Funding:
Electric Etc Inc
Glenn Wennberg Electric
Electrix West Inc
Fouts Electric Corp
Oak View, CA
Solar Edge Electric Inc
Ojai Electric LLC
Industry PPP Comparison Statistics
Nationwide, 82,626 businesses in the "Electrical Contractors and Other Wiring Installation Contractors" industry received a total of $11.77B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 11 employees, 83% higher than Snyder Electric's reported 6 employees, and received an average PPP loan of $142,494, 211% higher than this company's loan of $45,870.
FederalPay's PPP Information Policy
Footnotes & Information
Have FederalPay.org's open data tools been valuable? Consider donating!